There is now more money in passive index-based stock mutual funds and exchange traded funds than in actively managed strategies.

According to preliminary estimates from Morningstar, assets in mutual funds and ETFs that passively track U.S. equity indices surpassed those backed by portfolio managers for the first time last month, Bloomberg reports.

The shift in investor preferences reflects a monumental change in the $8 trillion stock fund industry after the financial crisis when investors who were burned by the steep losses turned to low-cost passive funds.

“We have so many funds beat the market 10 years, 20 years, but we’re not going to second-guess the customer,” Lynch, Fidelity’s vice chairman, told Bloomberg. “We’re not going to say, ‘You fool! You idiot!’ If you want to buy an index fund, here it is.”